公告文件 证券代码：000989 证券简称：九芝堂 公告编号：2025-068 九芝堂股份有限公司 第九届董事会第十一次会议决议公告 本议案已经公司第九届董事会审计委员会第九次会议审议通过。第三季度报 告全文请参看公告在《中国证券报》《证券时报》《证券日报》《上海证券报》及 巨潮资讯网的《九芝堂股份有限公司 2025 年第三季度报告》（公告编号：2025-067）。 表决情况：同意 9 票，反对 0 票，弃权 0 票，审议通过。 2、关于对外投资的议案 2025 年 10 月 28 日，公司与哈尔滨吉象隆生物技术有限公司（以下简称"吉 象隆"或"标的公司"）、吉象隆现有全体股东冷国庆、哈尔滨创新创业投资有限公 司（以下简称"哈尔滨创新"）、东晶、张琪、李晨阳、肖明辉、朱德宝、郭健在 哈尔滨市共同签署了《关于哈尔滨吉象隆生物技术有限公司之投资协议》（以下 九芝堂股份有限公司 1 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈 述或重大遗漏。 一、董事会会议召开情况 九芝堂股份有限公司第九届董事会第十一次会议通知于 2025 年 10 月 17 日 以电子邮件方式发出，会议于 2 ...

Group 1 - The core point of the article is that Jiuzhitang (SZ 000989) held its 11th meeting of the 9th Board of Directors on October 28, 2025, in Harbin, Heilongjiang Province, where it reviewed the Q3 2025 report [1] - For the first half of 2025, Jiuzhitang's revenue composition was as follows: pharmaceutical manufacturing accounted for 97.17%, pharmaceutical commerce for 2.63%, and other businesses for 0.2% [1] - As of the report date, Jiuzhitang's market capitalization was 8.5 billion yuan [1] Group 2 - The A-share market has surpassed 4000 points, marking a significant resurgence after a decade of stagnation, with technology leading the market's transformation and a new "slow bull" pattern emerging [1]

Group 1 - Company Jiuzhitang reported Q3 2023 revenue of approximately 1.627 billion yuan, a year-on-year decrease of 21.13% [1] - The net profit attributable to shareholders for the same period was about 152 million yuan, down 36.94% year-on-year [1] - As of the report date, Jiuzhitang's market capitalization stood at 8.5 billion yuan [2]

Financial Performance - The company's revenue for Q3 2025 was ¥362,940,886.72, a decrease of 5.51% compared to the same period last year[4]. - Net profit attributable to shareholders was ¥7,757,974.26, down 78.30% year-on-year[4]. - The net profit after deducting non-recurring gains and losses was -¥5,028,130.35, a decline of 118.77% compared to the previous year[4]. - Total operating revenue decreased to ¥1,627,453,256.26 from ¥2,063,533,614.86, representing a decline of approximately 21.1% year-over-year[18]. - Net profit for the period was ¥165,975,708.10, down from ¥239,661,674.79, indicating a decrease of approximately 30.7% year-over-year[20]. - The net profit attributable to shareholders for the first nine months of 2025 was ¥15,153.16 million, a decrease of 36.94% compared to the same period in 2024[9]. - Earnings per share (basic and diluted) decreased to ¥0.1791 from ¥0.2825, reflecting a decline of about 36.6% year-over-year[20]. Cash Flow and Liquidity - Operating cash flow for the year-to-date increased by 527.78% to ¥310,998,522.11, attributed to improved collection efforts and reduced cash payments for goods and services[5]. - Cash generated from operating activities was ¥1,535,644,342.67, compared to ¥1,591,185,666.36 in the previous period, a decrease of approximately 3.5%[22]. - The net cash flow from operating activities was $310,998,522.11, a significant improvement compared to a negative cash flow of $72,700,547.42 in the previous period[23]. - Cash inflow from investment activities totaled $3,037,054,887.07, compared to $848,247,967.62 in the prior period, indicating a substantial increase[23]. - Cash paid for purchasing goods and services was $211,341,697.78, down from $475,680,148.15, indicating improved cost management[23]. - The company paid $253,884,603.60 in dividends and interest, a decrease from $338,612,804.80, suggesting a focus on cash conservation[23]. Assets and Liabilities - Total assets at the end of the reporting period were ¥4,997,906,547.53, a decrease of 4.10% from the end of the previous year[4]. - Total current assets decreased from 2,860,413,179.28 RMB to 2,691,463,075.70 RMB, a decline of approximately 5.9%[15]. - Total liabilities decreased to ¥1,137,979,259.21 from ¥1,263,509,520.45, a reduction of about 9.9% year-over-year[16]. - Total equity decreased to ¥3,859,927,288.32 from ¥3,947,931,337.74, indicating a decline of approximately 2.2% year-over-year[16]. - The company reported a total non-current asset value of 2,306,443,471.83 RMB[15]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 57,358[11]. - The largest shareholder, Heilongjiang Cheneng Investment Co., Ltd., holds 24.04% of shares, totaling 205,730,587 shares[11]. - The second-largest shareholder, Li Zhenguo, holds 18.91% of shares, totaling 161,898,371 shares, with 80,470,000 shares pledged[11]. Operational Efficiency - Financial expenses decreased by 30.71% to -¥188.10 million, mainly due to reduced interest income[9]. - Total operating costs decreased to ¥1,464,229,123.55 from ¥1,850,492,088.11, a reduction of about 20.8% year-over-year[19]. - The company reported a financial expense of -¥1,881,003.34, compared to -¥2,714,790.48 in the previous period, showing an improvement in financial costs[19]. - The company maintained a stable deferred tax liability of ¥48,064,779.83, slightly up from ¥46,279,844.89, indicating a minor increase of about 3.9% year-over-year[16]. - The company reported a significant increase in construction in progress, rising by 1306.97% due to new project investments[8]. Inventory and Accounts Management - Inventory decreased from 1,061,844,268.00 RMB to 852,553,472.52 RMB, a decline of approximately 19.7%[15]. - Short-term borrowings decreased from 43,862,237.75 RMB to 27,163,488.31 RMB, a decline of approximately 38.3%[15]. - Accounts payable decreased from 59,118,623.45 RMB to 43,648,046.22 RMB, a decline of approximately 26.2%[15].

公告文件 证券代码：000989 证券简称：九芝堂 公告编号：2025-069 九芝堂股份有限公司关于对外投资的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 一、对外投资概述 1、对外投资的基本情况 为持续落实九芝堂股份有限公司（以下简称"九芝堂"或"公司"）的战略发 展目标，进一步丰富公司在药品生产、研发以及相关产业的业务布局，延伸公 司各经营版块的业务协同，提升公司综合竞争实力，公司与哈尔滨吉象隆生物 技术有限公司（以下简称"吉象隆"或"标的公司"）、吉象隆现有全体股东冷国 庆、哈尔滨创新创业投资有限公司（以下简称"哈尔滨创新"）、东晶、张琪、 李晨阳、肖明辉、朱德宝、郭健于 2025 年 10 月 28 日在哈尔滨市共同签署了 《关于哈尔滨吉象隆生物技术有限公司之投资协议》（以下简称"《投资协 议》"）以及《关于哈尔滨吉象隆生物技术有限公司之股东协议》（以下简称 "《股东协议》"）。同时，公司与吉象隆、冷国庆及吉象隆的借款关联方田辉、 王丽莉、余荣熹、杨文龙在哈尔滨市共同签署了《补充协议》。 公司以人民币 21,000 万元受让吉象隆现有股东冷国 ...

九芝堂公告，第三季度营收为3.63亿元，同比下降5.51%；净利润为775.8万元，同比下降78.30%。前三 季度营收为16.27亿元，同比下降21.13%；净利润为1.52亿元，同比下降36.94%。 ...

Core Viewpoint - The stock of JiuZhiTang has experienced fluctuations, with a recent decline of 2.08% and a year-to-date increase of 29.32%, indicating volatility in investor sentiment and market performance [1][2]. Company Overview - JiuZhiTang Co., Ltd. was established on May 12, 1999, and listed on June 28, 2000. The company is based in Beijing and Changsha, specializing in the research, production, and sales of traditional Chinese medicine, biological pharmaceuticals, and cardiovascular drugs [2]. - The revenue composition of JiuZhiTang includes prescription drugs (50.27%), OTC products (46.11%), other products (2.50%), health products (0.92%), and additional categories (0.20%) [2]. Financial Performance - For the first half of 2025, JiuZhiTang reported revenue of 1.265 billion yuan, a year-on-year decrease of 24.71%, and a net profit attributable to shareholders of 144 million yuan, down 29.71% compared to the previous year [2]. - The company has distributed a total of 4.364 billion yuan in dividends since its A-share listing, with 935 million yuan distributed over the last three years [3]. Shareholder Information - As of June 30, 2025, JiuZhiTang had 50,500 shareholders, an increase of 25.14% from the previous period, with an average of 13,739 circulating shares per shareholder, a decrease of 20.09% [2]. - The top ten circulating shareholders include a new entrant, Qianhai Kaiyuan Steady Growth Mixed Fund, holding 1.996 million shares [3]. Market Activity - JiuZhiTang's stock has been on the龙虎榜 (a stock trading list in China) three times this year, with the most recent appearance on July 10, where it recorded a net buy of -48.5516 million yuan [1].

Core Viewpoint - The stock of Jiuzhitang has shown a significant increase of 32.32% year-to-date, with recent fluctuations indicating a mixed performance in the short term [2]. Group 1: Stock Performance - As of October 16, Jiuzhitang's stock price rose by 2.01% to 10.14 CNY per share, with a trading volume of 51.58 million CNY and a turnover rate of 0.74%, resulting in a total market capitalization of 8.679 billion CNY [1]. - Year-to-date, Jiuzhitang's stock has increased by 32.32%, with a 3.89% rise in the last five trading days, but a decline of 4.43% over the last 20 days and 11.13% over the last 60 days [2]. Group 2: Financial Performance - For the first half of 2025, Jiuzhitang reported a revenue of 1.265 billion CNY, a year-on-year decrease of 24.71%, and a net profit attributable to shareholders of 144 million CNY, down 29.71% year-on-year [3]. - The company has distributed a total of 4.364 billion CNY in dividends since its A-share listing, with 935 million CNY distributed over the past three years [4]. Group 3: Shareholder Information - As of June 30, 2025, Jiuzhitang had 50,500 shareholders, an increase of 25.14% from the previous period, with an average of 13,739 circulating shares per shareholder, a decrease of 20.09% [3]. - The top ten circulating shareholders include a new entrant, Qianhai Kaiyuan Steady Growth Mixed Fund, holding 1.996 million shares [4].

Market Overview - On September 26, the Traditional Chinese Medicine (TCM) sector declined by 0.38%, with Weikang Pharmaceutical leading the drop [1] - The Shanghai Composite Index closed at 3828.11, down 0.65%, while the Shenzhen Component Index closed at 13209.0, down 1.76% [1] Stock Performance - Notable gainers in the TCM sector included: - *ST Changyao: Closed at 3.88, up 3.47% with a trading volume of 134,100 shares [1] - Fangsheng Pharmaceutical: Closed at 12.08, up 2.11% with a trading volume of 274,600 shares [1] - Huaren Sanjiu: Closed at 28.39, up 1.50% with a trading volume of 133,600 shares [1] - Major decliners included: - Weikang Pharmaceutical: Closed at 23.66, down 6.30% with a trading volume of 81,000 shares [2] - Zhendong Pharmaceutical: Closed at 6.57, down 4.09% with a trading volume of 518,000 shares [2] - Zhongsheng Pharmaceutical: Closed at 17.00, down 2.41% with a trading volume of 295,000 shares [2] Capital Flow - The TCM sector experienced a net outflow of 298 million yuan from institutional investors, while retail investors saw a net inflow of 396 million yuan [2] - Key stocks with significant capital flow included: - Huaren Sanjiu: Net inflow of 44.98 million yuan from institutional investors [3] - Fangsheng Pharmaceutical: Net inflow of 33.39 million yuan from institutional investors [3] - Dong'e Ejiao: Net inflow of 32.19 million yuan from institutional investors [3]

Company Overview - JiuZhiTang has seen a stock price increase of 32.19% year-to-date, but has experienced a slight decline of 0.30% over the last 5 trading days and a more significant drop of 11.53% over the last 20 days [2] - The company specializes in the research, production, and sales of traditional Chinese medicine, biological pharmaceuticals, and cardiovascular drugs, with its main revenue sources being prescription drugs (50.27%) and OTC products (46.11%) [2] Financial Performance - For the first half of 2025, JiuZhiTang reported a revenue of 1.265 billion yuan, representing a year-on-year decrease of 24.71%, while the net profit attributable to shareholders was 144 million yuan, down 29.71% year-on-year [3] - Cumulative cash dividends since the company's A-share listing amount to 4.364 billion yuan, with 935 million yuan distributed over the past three years [4] Shareholder Information - As of June 30, 2025, the number of shareholders increased to 50,500, marking a 25.14% rise, while the average number of circulating shares per person decreased by 20.09% to 13,739 shares [3] - The top ten circulating shareholders include a new entrant, Qianhai Kaiyuan Steady Growth Mixed Fund, holding 1.996 million shares [4] Market Activity - On September 26, JiuZhiTang's stock rose by 2.12%, reaching 10.13 yuan per share, with a trading volume of 1.11 billion yuan and a turnover rate of 1.62% [1] - The net inflow of main funds was 593,400 yuan, with significant buying and selling activity recorded [1]